AKITA Drilling Ltd T.AKT.A

Alternate Symbol(s): AKTAF | T.AKT.B

Energy Oil & Gas Drilling

AKITA Drilling Ltd. provides contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The Company is an oil and gas drilling contractor with a fleet of about 32 drilling rigs. Its United States fleet is supported out of its operations base in Midland, Texas and consists of 13 high specification AC triple rigs, one high specification AC double rig and one DC triple rig, all serving the Permian Basin. With a fleet of 17 rigs, its Canadian division operates in Alberta, British Columbia, Saskatchewan, and as market conditions dictate, the Yukon and the Northwest Territories. The Canadian division operates both wholly owned rigs and rigs. Its Canadian division primarily operates in the oil sands, heavy oil regions and in the Montney deep gas basin. In addition, the Canadian division plays a role in drilling potash and other energy transition targets, including carbon capture wells, hydrogen storage wells and geothermal wells.

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AKITA Drilling Ltd > EPS of 17 to 20 cents increase for a stock of $1.50

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Comment by blindpigon Oct 01, 2024 2:18pm

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RE:EPS of 17 to 20 cents increase for a stock of $1.50

I also think 10-12 cent dividend would be reasonable along with a 10% share buyback to commence early next year. Debt to EBITDA would be around 1 so no problem. This would only cost arounf $12 million leaving plenty of FCF to continue to further reduce debt plus investment in any required equipment upgrades to increase the utilization rate.

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